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US Dow, S&P 500 rises to hit new all-time highs

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The US stocks were mostly higher on Monday, 16 August 2021, with the Dow and the S&P500 indexes rose to hit new all-time highs, while the Nasdaq closed in the red. The market gains were supported by optimism about the economic outlook after bumper set of quarterly earnings reports from domestic companies'. However, market gains were capped as investors remain wary of the dampening effect of the Delta variant of COvid-19 on business activity and potential pitfalls including geopolitical uncertainty and a possible end to the Federal Reserve's asset purchase program by mid-2022.

At the close of trade, the Dow Jones Industrial Average index advanced 110.02 points, or 0.31%, to 35,625.40. The S&P 500 index added 11.71 points, or 0.26%, to 4,479.76. The tech-heavy Nasdaq Composite Index was down 29.14 points, or 0.2%, to 14,793.76.

Total 7 of 11 S&P500 sectors advanced, while 4 sectors declined. Healthcare (up 1.13%) sector was top performer, followed by utilities (up 0.65%), Consumer staples (up 0.63%), and Information technology (up 0.44%) sectors, while energy (down 1.83%) sector was worst performer, followed by financials (down 0.49%) and consumer discretionary (down 0.38%) sectors.

Total volume turnover on U.

S. exchanges was 7.61 billion shares, up from previous session volume of 6.17 billion shares. In the NYSE exchange, 1175 issues advanced, 2131 issues declined, and 158 issues closed unchanged. In the NASDAQ, 1362 issues advanced, 3049 issues declined, and 217 issues unchanged.

Top five advancing stocks were NanoVibronix Inc (up 33.73%), GoHealth Inc (up 22.11%), Bright Health Group Inc (up 17.74%), Digital Media Solutions Inc (up 17.17%), and Live Ventures Inc (up 16.2%), while bottom five declining stocks included Sesen Bio Inc (down 42.18%), China Finance Online Co (down 35.36%), Essa Pharma Inc (down 34.48%), Zhangmen Education Inc (down 26.6%), and Huadi International Group Co (down 23%).

ECONOMIC NEWS: New York Manufacturing Index Plunges In August-New York manufacturing activity saw significantly slower growth in the month of August, according to a report released by the Federal Reserve Bank of New York on Monday. The New York Fed said its general business conditions index plunged to 18.3 in August from 43.0 in July. While a positive reading still indicates growth. Looking ahead, the New York Fed said firms remained optimistic that conditions would improve over the next six months, with substantial increases in employment and prices expected.

Among Indian ADR, INFOSYS fell 0.97% to $23.40, Wipro fell 0.11% to $8.85, WNS Holdings fell 0.02% to $83.12, HDFC Bank fell 1.78% to $75.23, ICICI Bank slid 1.45% to $19.08, Dr Reddys Labs fell 0.05% to $62.68, and Tata Motors fell 1.37% to $20.22. Vedanta added 1.25% to $17.85.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, August 17 2021. 09:25 IST